"Mr. Yu, on behalf of wKIF, you will increase wKIF's registered capital from US$200 million to US$500 million."
On November 27, Sun Jian returned to Jiangcheng headquarters and felt happy after listening to Yu Jianguo's long-distance phone call report.
"Okay, Mr. Sun!"
On November 24, America Online (AoL) acquired Netscape Communications (Netscape) in a tax-free stock exchange for the equivalent of US$4.2 billion, and the transaction was completed on the 25th.
Four months ago, Netscape Communications CEO Jim Barksdale and AoL CEO Steve Case began to contact each other. AoL took a fancy to Netscape Communications to develop a high-speed and efficient browser code-named "Raptor". .
Wukong Angel Investment Fund (wKIF), the largest shareholder holding 28.5% of Netscape Communications' shares, made it clear at the board meeting that it would not interfere with Netscape Communications' market transactions.
AtIc also holds 14.3 million shares of AoL, accounting for 5.6% of the company's total share capital. It is the fifth largest shareholder, with an average share price of US$38.5. It voted in favor of AoL's plan to acquire Netscape Communications on the board of directors.
AoL and Netscape Communications have a common enemy, Microsoft. AoL faces Microsoft's online product mSN; Netscape Communications faces Microsoft's browser IE.
AoL originally planned to spend US$4.2 billion in cash to acquire Netscape Communications to prevent Microsoft from getting in the way. Steve Case followed the advice of acquisition experts. Two weeks ago, the economic terms of exchanging 0.45 shares of AoL stock for 1 share of Netscape Communications were announced. It was determined before the transaction was completed, and there was no need to pay the 10% share transfer transaction tax of US$420 million.
Shareholders on both sides are happy.
After completing the transaction, wKIF received 14.25 million shares of AoL. The closing price of AoL was US$84. wKIF held AoL shares worth US$1.197 billion, plus the 14.3 million shares held by AtIc, for a total of 28.55 million shares, accounting for 10.56% after AoL's share expansion.
General Manager Lin Chang will serve as a director of AoL on behalf of Wukong Angel Investment Fund. President Yu Jianguo represents AtIc and is also one of the directors of AoL. As strategic investors, the two companies will not participate in the daily operating affairs of AoL.
Sun Jian read an article on the Internet in his previous life. From 220 to 20 US dollars, AoL Time Warner's stock price plummeted all the way. I still remember the general content. Before the merger of the two companies, AoL's stock price reached a maximum of 220 US dollars. It was once the S&P 500 The largest company in the index had a market capitalization of $240 billion at its peak.
In 2001, AoL spent more than 160 billion US dollars to acquire Time Warner, which was called the world's largest corporate acquisition that year.
AoL's current market capitalization is only $86 billion.
AoL's market value has nearly doubled, and it has long-term investment value. All Internet technology stocks were cashed out before the bubble burst.
Before the Internet technology stock bubble burst, Sun Jianhui ordered the liquidation of Internet technology stocks in the hands of AtIc and wKIF.
In his previous life, he only knew that AoL acquired Netscape Communications for US$4.2 billion. Sun Jian did not know that the acquisition was completed in the form of stock exchange. He also planned to use wKIF's registered capital after receiving US$1.197 billion (including taxes) in real money. The increase from US$200 million to US$1 billion will enhance wKIF's reputation and attract more high-tech projects to participate in venture capital.
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"Comrades, the main task of this reform of the medical insurance system is to establish a basic medical insurance system for urban employees. All urban employers and their employees must participate in basic medical insurance and implement territorial management; basic medical insurance premiums are borne by both employers and employees. Shared burdens; the basic medical insurance fund is combined with social pooling and personal accounts."
On December 1, Sun Jian held a company high-level meeting in the conference room of the company's headquarters, inviting Chen Yuanchao, Wang Shaoan and Lu Haiyan to participate, conveying the spirit of the meeting decided by the National Urban Employees Medical Insurance System Work Conference, and delivering an important speech on the implementation of Taobao Holdings' subsidiaries. The decision was made on the reform of the basic medical insurance system and also gave instructions for Jiangcheng Yikang Hospital to face the new situation of the reform of the basic medical insurance system for urban employees.
From November 26 to 27, the National Working Conference on the Medical Insurance System for Urban Employees decided to reform the medical insurance system for urban employees nationwide starting in 1999 and to complete it by the end of that year.
"Basic medical insurance premiums are jointly paid by the employer and employees. The employer's contribution rate should be controlled at about 6% of the employee's total salary. The employee contribution rate is generally 2% of his or her salary income. A basic medical insurance pooling fund and personal account must be established , the basic medical insurance premiums paid by individual employees are all included in the personal account. The basic medical insurance premiums paid by the employer are divided into two parts, one part is used to establish the overall fund, and the other part is transferred to the personal account. The proportion transferred to the personal account is generally The employer pays about 30%. The specific proportion is determined by the coordinating region based on factors such as the payment scope of personal accounts and the age of employees. The management and ordinary employees of Taobao Holdings follow this standard, and Vice President Liu is responsible for this. Completed before November 14th.”
The "Decision of the State Council on Establishing a Basic Medical Insurance System for Urban Employees" will be implemented on December 14.
"Okay, Mr. Sun!"
Vice President Liu Yue is responsible for the personnel and finance of Taobao Holdings.
"President Chen, Vice President Wang, and Vice President Lu, after the country completes the reform of the urban employee medical insurance system next year, the publicly funded medical and labor insurance medical systems that have been in place for more than 40 years will be automatically cancelled, and the number of patients in our hospital will increase significantly. By March 1, 2000, we began to apply for the qualification of a tertiary hospital."
Jiangcheng Yikang Hospital opened on a trial basis on February 1, 1997 and officially opened on March 1. Two years have passed in a flash.
It is no exaggeration to describe the development of Jiangcheng Yikang Hospital as rapid.
Stent surgery, heart valve replacement, installation of external pacemakers and congenital heart treatment surgeries have set a precedent for domestic medical system treatment technology and filled the gap in the domestic medical system in carrying out these advanced treatment technologies.
The intracardiac catheterization laboratory, interventional department and cardiac surgery department have successfully applied for national key clinical specialties.
Neurosurgery, Cardiovascular Medicine, and Gastroenterology have been successfully declared as provincial key clinical specialties; Respiratory Medicine, Hematology, Endocrinology, Nephrology, Rheumatology and Immunology, Liver Surgery, Biliary and Pancreatic Surgery, and Gastrointestinal Surgery have been successfully declared as municipal key clinical specialties. .
It has won 3 national-level, 24 S-ministerial-level, and 47 municipal-level scientific and technological progress (achievement) awards.
Published 3,275 ScI papers in core domestic and foreign journals, of which 11 ScI papers have an impact factor of 5.0.
In 1997 (from March 1, 1997 to March 1, 1998), 2,562 medical staff of Jiangcheng Yikang Hospital diagnosed and treated patients from all over the country, admitted patients, and performed craniotomy, thoracotomy, laparotomy, stent and other surgeries. There were 3,582 cases, 3,274 babies were born during this period, and there was no medical error.
In 1997, Jiangcheng Yikang Hospital had a total income of 10,000 yuan, a total expenditure of 10,000 yuan, and a loss of 22.95 million yuan (including a reduction of more than 4.75 million yuan in medical expenses for patients from families with financial difficulties).
